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La Posada Resort to receive $185 million facelift.
By Donna Hogan, The Tribune, Mesa, Ariz. Knight Ridder/Tribune Business News
Jan. 20--Paradise Valley's soon-to-be-reborn La Posada Resort is getting a massive $185 million makeover that will elevate it to a world-class property for travelers and luxury home buyers.
And the sprawling 28-acre property at Lincoln Drive and Tatum Boulevard is scrapping the old name along with the tired look and sea of asphalt that flanks the existing entrance. The 26-year-old inn will be dubbed Montelucia when the makeover is completed, said Robert Flaxman, chief executive officer for new owner Crown Realty & Development Corp. It's a combination of the European-flavored …
